Collapsing Eceonomy

“Our reserve money can only cover for 5 weeks” ~ Central Bank

Juba – The deputy Governor of the Central Bank of South Sudan, Hon. John Dor Majok, said that the Country’s reserve money can only cover for 5 weeks, not more!

In an interview with Sebit William of Radio Miraya this morning, Mr. Dor also said that they can not be blamed for the current economic downfall as they only save what is there.

He also defended the decision to float the rate of exchange in the market of USD against our SSP as a good step they took in trying to improve the economic situation. the initiative have now dig further and burried the SSP fully with the exchange rate standing @ 500+ SSP against a hundred US dollar.